The historic Greenbrier resort, which has gone from hosting presidents and royalty to posting losses, filed for Chapter 11 bankruptcy protection Thursday and unveiled a plan to sell itself to hotel giant Marriott International Inc. for up to $130 million.

Stephen Joyce joined Choice Hotels International in May 2008 as president and soon became CEO of the company best known for Comfort Inn, Clarion and other budget chains. He spoke with USA TODAY recently to discuss his transition into the top job, the effects of the economic downturn and his desire to acquire more upscale brands.

With the down economy and ongoing public backlash against excessive spending by corporate giants, the lavish incentive trip and, increasingly, even once-routine meetings and conferences are in trouble. Bailout recipients AIG, Wells Fargo, Chrysler and General Motors all scrapped most 2009 incentive trips, behavior that's increasingly influencing healthy companies.